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2. (4 points) Based on the information below about the production structure, explain whether the technology used in each part demonstrates constant returns to scale

2. (4 points) Based on the information below about the production structure, explain whether the technology used in each part demonstrates constant returns to scale (CRS) or increasing returns to scale (IRS) property. a. The total labor cost of production of Q units of a good is given by C(Q) = 6Q + 40 b. The total labor cost of production of Q units of a good is given by C(Q) = 160Q c. To produce a good, one needs to use capital K and labor L. The quantity Q produced using L units of labor and K units of capital is given by Q = 11(L)0.7 (K)0.4 d. To produce a good, one needs to use capital K, labor L, and electricity E. The quantity Q produced using L units of labor, K units of capital, E units of electricity, and C units of coal is given by Q = 60(L)0.2 (K)0.3 (E)0.3 (C)0.2

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